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The American Splurge on Merchandise Is Grinding Slowly to an End

  • Pandemic spending is shifting back to services away from goods
  • Flexport data shows inflation-adjusted return is even sharper
A Peloton stationary bike for sale at the company's showroom in Dedham, Massachusetts.

A Peloton stationary bike for sale at the company's showroom in Dedham, Massachusetts.

Photographer: Adam Glanzman/Bloomberg

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For two years, the pandemic spurred Americans to buy more goods at the expense of services. That shift -- which boosted everything from container shipping rates to sales of Peloton exercise bikes -- looks to be grinding slowly toward an end.